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With Mazda's Investment in Changan Ford, the Restructured Company is renamed as Changan Ford Mazda


HIROSHIMA - April 4, 2006: Mazda Motor Corporation announced today that the Chinese government has approved Mazda's investment in Changan Ford Automobile Co., Ltd. (Changan Ford), the joint venture between Changan and Ford. The restructured company has been renamed as Changan Ford Mazda Automobile Co., Ltd. (CFMA). With the completion of the investment fund transfer, this equity restructuring marks another major step forward in the three-party partnership in China, following the three parties' joint announcement on the commencement of the production of Mazda3 in Changan Ford's Chongqing Plant on February 27, 2006.

Changan, Ford and Mazda hold 50 percent, 35 percent and 15 percent shares in CFMA, respectively. The 15 percent shares owned by Mazda in CFMA were transferred by Ford from the company's 50 percent shareholding originally held in Changan Ford.

"We are pleased that Mazda's investment in Changan Ford was completed smoothly. With this movement, the fundamentals of cooperation among Mazda, Ford and Changan will be further strengthened, and the progress of the three-party joint projects in Chongqing and Nanjing will surely be accelerated. Moreover, this will also expand the possibility of further cooperation among the partners," said Mr. Kiyoshi Ozaki, Mazda's Director and Senior Managing Executive Officer in charge of Mazda's China business strategy. "We believe that the three-party joint venture has built a sound foundation for Mazda to achieve our mid-term goal of producing and selling 300,000 units in the Chinese market by 2010. This would not be possible without the great support of the Chinese government and each partner in China, which I deeply appreciate."

"The equity restructuring of Changan Ford has lifted the partnership among Ford, Mazda and Changan in China to a closer and more substantial stage," said Mei Wei Cheng, Chairman & CEO of Ford Motor (China) Ltd.. "I have no doubt that the three-party joint venture CFMA will fully combine the advantageous resources of three parties so as to provide more new and exciting products to Chinese customers. I also strongly believe the company will grow fast to become one of the top tier auto manufacturers in China."

"The restructuring of Changan Ford with Mazda's participation is the result of joint efforts and great partnership of Changan, Ford and Mazda. This shows the three parties have entered into a new stage of cooperation in terms of brand, technology, marketing, and resources sharing, " said Yin Jiaxu, Deputy General Manager of China South Industries Group Corp., Chairman of Changan Automotive Group as well as Changan Ford. "Changan will further its cooperation with Ford and Mazda in order to deliver high quality products to meet customer needs. Meanwhile, Changan will work closely with its partners to build up a brand new model of operation to maximize each party's benefits. "

The long-term, strategic partnership among Mazda, Ford and Changan in China has been developing fast over the past two years. The three parties are jointly building a brand new vehicle assembly plant in Nanjing, the second manufacturing base of CFMA, which is able to produce both Mazda and Ford brand cars. The operation of the Nanjing assembly plant is expected in 2007, with an initial annual capacity of 160,000 units. The three parties are also jointly expanding the capacity of the Chongqing plant of CFMA, which now claims an annual capacity of 150,000 units, and will be further expanded to 200,000 units by May this year. Part of the expanded capacity in Chongqing is being used for the production of Mazda3. Adjacent to the Nanjing assembly plant is the three-party joint venture Changan Ford Mazda Engine Co., Ltd., which is being constructed and will be operational in 2007. The engine company is also able to produce world-class engine products of both Ford and Mazda brands, which are expected to supply to the three parties' vehicle assembly operations in China.

source:autochannel.com
 

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Changan Ford Mazda Automobile sets new all time records

5 Jan 2007 , Chongqing : With new all time sales records set in December, 2006, Changan Ford Mazda Automobile Co., Ltd., (Changan Ford Mazda Automobile), today announced that its Ford Brand marketing, sales and service business achieved new, record results, for the full year of 2006.

"2006 has been a truly outstanding year for Changan Ford Mazda Automobile," said David G. Thomas, General Manager of Changan Ford Mazda Automobile Sales Company. "Our Ford Brand business has exceeded all the challenging marketing, sales and service targets that we and our Dealer partners jointly set for ourselves".

In December, Ford brand retails reached an all time record of 19,401 units, well ahead of the previous record set in September. Focus was very strong, breaking the 10,000 units in one month barrier for the first time and reaching a record 13,955 retails for the month. Mondeo was also very strong, once again selling more than 5,000 units for the month to close at nearly 5,500 retails, and benefiting from the very positive reception to the new 2007 model.

Full year Ford Brand retails reached 129£¬790 units, 68,768 units and 112.7 per cent ahead of last year, easily outpacing the strong average industry growth and maintaining Changan Ford Mazda Automobile's Ford Brand as one of the fastest growing franchises in the industry.

In its first full year, Focus achieved 78,430 retails, well ahead of expectation and reflecting the strength of both the 3 Box and 2 Box versions of this highly regarded model line. "Following its launch only a few months ago in September, the Focus 2 Box has become a very successful model for us", said David Thomas. "In December, Focus 2 Box sales were a record at 6,040 units, and were just over 40 per cent mix of total Focus sales, exactly in line with our plan. In addition, these are all incremental sales to Changan Ford Mazda Automobile, since Focus 3 Box sales also reached an all time record of 7,915 units in December. Overall, 2006 was a highly successful year for both our Focus models," he said.

However, Focus was not the only success story for Changan Ford Mazda Automobile in 2006. Mondeo performed well, and in line with the company's comprehensive marketing plan, to reach a total of 47,651 retails for the year, 15.0 per cent ahead of last year. "Mondeo continues to be a very strong model for both us and our Dealers", said Mr. Thomas. "Sales continue to grow, and the recently launched new 2007 model will continue to maintain strong Mondeo sales for us and our Dealers this year".

Mr. Thomas noted: "Our strong, overall, retail performance was driven by our Dealer partners eagerly taking all the vehicles we could produce. The demand has been so strong for all our models that we have emptied our vehicle storage compounds. "Our colleagues in Manufacturing are now working hard to meet this continuing strong demand for Ford vehicles in time for the Chinese New Year".

This exceptional performance allowed Changan Ford Mazda Automobile's Ford brand wholesales for the year to reach 131,079units, 68,154 units and 108.3 per cent ahead of last year, and just exceeding the ambitious target that Changan Ford Mazda Automobile and its Dealers jointly set for themselves.

In addition to strong vehicle sales, Changan Ford Mazda Automobile exceeded its plan to double parts and accessory sales for the year, and was able to do this while still maintaining an extremely high "First Time Fill" parts supply performance to ensure that our growing family of customers was able to get the parts they want quickly and efficiently. Extremely strong growth in its Sales and Service Customer Satisfaction performance was also reported, closing the year well ahead of the Company's objectives for the year, and at nearly double the level of last year.

"We could not have achieved these results without a strong partnership with our Dealers," said Mr. Thomas. "For the second year in a row, we have opened a new 4S Dealer each week, showing strong and growing demand for the Changan Ford Mazda Automobile Ford Brand franchise, not just from new business partners, but also from our existing Dealers who want to grow their businesses with us. Together we have both had a very strong year".

These comments were echoed by Feng Shouming, Chairman of Wuhan Headman Automobile Co., Ltd. and Chairman of the Changan Ford Mazda Automobile Ford Brand Dealer Council: "The strategies and plans put in place this year have been what the Changan Ford Mazda Automobile Ford Brand dealers have needed to grow their businesses in the very competitive China market. We have a very close and beneficial working relationship with the Changan Ford Mazda Automobile team, and this has allowed us to jointly exceed all our targets for the year and strengthen this valuable franchise. All my dealer colleagues and I are looking forward to more new Ford models and an even more successful year in 2007".

David Thomas concluded: "We have been one of the fastest growing automotive franchises in the competitive Chinese market so far this year. With these outstanding results in December, achieved in partnership with our Dealers, we have jointly closed the most successful year in our short history ahead of our expectations. We are confident they will ensure that the Changan Ford Mazda Automobile Ford Brand franchise remains one of the fastest growing franchises in the most dynamic automotive market in the world".
 

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Discussion Starter · #3 ·
Changan Ford Mazda Jan-Oct Car Sales 168,015; Up 60% On Year

BEIJING -(Dow Jones)- Ford Motor Co. (F) said its joint venture in China, Changan Ford Mazda Automobile Co., sold 168,015 passenger vehicles in the January-October period, up 60% from a year earlier.

Total sales of Ford's wholly owned brands in China, including Ford, Lincoln, Volvo, Jaguar and Land Rover, rose 31% in the January-October period from a year earlier to 166,539 units
 

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Ford's Chinese retail sales grew by 30 in 2007.
Ford has announced that its retail sales in China grew by 30% in 2007 — to 216,324 vehicles — out pacing the overall market. Sales data was only available for the first 11 months in China, but compared to the same time period in 2006, overall auto sales in China were up 23% to 5.66 million units.

According to Automotive News, sales of Ford branded cars climbed 26%, totaling 196,221 vehicles. That increase was largely due to strong sales of the Focus, whose sales rose by 57%.

Retail sales of Ford's other brands — Volvo, Jaguar and Land Rover — increased by 84%, totaling 20,103 vehicles.

With the U.S. car market in a downturn, overseas markets are quickly becoming a viable life raft to keep domestic automakers from dipping too far into the red. Just yesterday, Ford announced that will continue to invest in India and Chrysler reported a 15% increase in overseas sales in 2007. 2007 also saw General Motors become the first automaker to sell 1 million vehicles in China within a 12-month span.
source: leftlanenews.com


U.S. second largest automaker Ford Motor has sold 216, 324 Ford brand vehicles in Chinese market in 2007, up 30 percent from one year earlier, the company announced in a press release today.

These Ford vehicles include Ford, Lincoln, Volvo, Jaguar and Land Rover brands, but it does not include Mazda, according to the press release.

Ford’s flagship joint venture in China, the Chongqing-based Changan Ford Mazda sold 217,100 vehicles in 2007, up 60 percent from one year earlier.

Ford’s best selling model, Focus, sold 124,972 units in 2007, up 57 percent from one year earlier, becoming one of the top 10 best selling models in Chinese market.

In commercial vehicles, Ford Transit sold 26,585 vehicles, up 19% from one year earlier.
 

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Chang'an Mazda accounts for a half of Mazda's China sales.

February 1, 2008 - Chang'an Ford Mazda Automobile Co, Ford's China joint venture, aims to take more than 50 percent of Mazda's sales in China by 2010, a senior company official said yesterday.

In an interview with local newspaper Chongqing Evening News, Noriaki Yamada, President and COO of Mazda Motor (China) Co., Ltd said: "Mazda aims to sell 300,000 vehicles by 2010, while its Mazda 2 and Mazda 3 will account for 55 percent of the number."

"By adding Mazda 2 (four-door sedan and five-door hatchback versions) to the B segment, and with the existing Mazda 3, Mazda 6 and Mazda 5, we will be able to cover all major segments of Chinese market," he added.

Chang'an Ford Mazda plans to sell 110,000 Mazda 2 and Mazda 3 vehicles by the end of this year and 150,000 vehicles by 2010. Mazda will sell another 150,000 vehicles through FAW Car Co.,Ltd, where Mazda 6 is being produced.

Currently Chang'an Ford Mazda's line-up covers Ford Mondeo, Focus and S-Max, Mazda3, Mazda2 and Volvo S40. Last year the joint venture sold 217,847 vehicles altogether, which include 37,472 Mazda 2 and Mazda 3 vehicles. Separately, FAW Car Co sold 53,994 Mazda 6 vehicles last year.
source: Gasgoo.com
 

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Chang'an Auto Group injects $29 M into Changan Ford Mazda.

February 15, 2008 – China's fourth largest automaker group Changan Auto Group has decided to pump additional $29 million into its subsidiary Changan Ford Mazda, the Shenzhen-listed company said in an announcement yesterday.

The registration capital of Changan Ford Mazda will be increased to $35.14 million from $29.34 million, the announcement said.

After the new investment, Changan Auto Group's total investment in Changan Ford Mazda will reach $175.72 million, which represents 50 percent of the joint venture's total investment.

Ford Asia has invested $86.10 million in the joint venture. After Changan Auto's new investment, Ford Asia's stake in the joint venture will drop to 24.5 percent; Ford China, with a total investment of $36.90 million investments in the joint venture, will have a 10.5 percent stake; Mazda Motor will hold the remainder 15 percent stakes.

In 2007, Changan Ford Mazda sold 217,848 vehicles in China, an increase of 60 percent from one year earlier.

Ford and its local partners plan a $58 million investment in their Chinese joint venture to fund future expansion.

The move, approved by the state government, will help Chang'an Ford Mazda, a three-way venture involving Ford and its Japanese affiliate Mazda and China's Chang'an Automotive Group, to boost its registered capital to more than $350 million.

Ford Motor China will invest $20.3 million in the venture, while Chang'an Auto, the nation's fourth-largest automaker, will put in $29 million. Mazda will invest $8.7 million. The shareholding structure will remain unchanged, with Chang'an Auto owning 50 percent, Ford 35 percent and Mazda 15 percent.

Chang'an Ford Mazda's sales last year rose 60 percent to a record 217,100 vehicles. Strong sales of the Ford Focus and a series of new products, including the S-Max crossover vehicle and the Mondeo sedan, helped Chang'an Ford Mazda to be among the top 10 best-selling carmakers in China.

The joint venture opened a 160,000-unit production facility last September, making small cars for both Ford and Mazda. Ford can now make more than 410,000 vehicles in China at full capacity.
source: Gasgoo.com, edmunds.com
 

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Ford misses market share target in China in 2007.

February 22, 2008 - Though Ford sales in China were up more than 25 percent over 2006, the automaker missed its 2007 market share target, which means Ford is growing in China but not fast enough to catch up with its competitors, The Detroit News reported yesterday.

The report said the company had planned to increase its market share from 2% to 2.4%, but in fact only managed a rise to 2.1%. The report also said that Ford localization rate in China stands merely 70 percent, far below its global competitors in the market, which potentially means that Ford is losing as much as US$1,000 per vehicle in profit.

For example, Ford's compact car Focus is listed on the top10 best-selling cars in China, but the automaker's profit margins were slimmer than those of its competitor due to low localization rate.

Ford says it is learning from marketing mistakes, convincing important suppliers to follow it to China and aggressively expanding its manufacturing capabilities in the country.

Ford did not open its first factory in China until 2003 -- five years after GM started producing cars there and 18 years after Volkswagen AG, the market leader in China.

"We started out later, but we are really moving decisively and quickly," Ford CEO Alan Mulally said in an interview.
source: Gasgoo.com
 

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Ford expands strongly in China in the first quarter.

April 10, 2008 - FORD Motor China sold 90,791 units in the first quarter of this year, a 47-percent year-on-year increase, fueled by the country's economic boom.

The strong sales helped the world's third largest auto maker to grow strongly in China's market and offset slow sales in North America that resulted in an ambitious restructuring program.

Analyst said Ford's strong performance is a result of bringing the right products to meet local demand.

Sales of Ford-branded passenger vehicles rose 54 percent year on year to 47,213 units in the first quarter.

Chang'an Ford Mazda Automobile, a three-partner venture between Ford, Japan's Mazda and Chang'an Automobile Group, sold 61,789 vehicles, posting a 58-percent increase from a year earlier. Ford Focus sales rose 58 percent to 32,326 units.
source: Shanghai Daily
 

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Mazda China sales fall short of original target.

July 1, 2008 - Chang'an Ford Mazda Automobile Co, a three way joint venture between Chongqing Changan Automobile Co, Ford Motor and Mazda Motor Co, is reported to be falling far short of 2008 sales target judging from its sales performance year to date, a Beijing-based newspaper today.

Statistics from China's Passenger Car Association shows only a total of 21,954 Mazda 2 and Mazda 3 sedans were sold monthly since the beginning of this year, while the automaker announced to sell at least 110,000 of the two models in 2008.

The local Beijing Business Today attributes the sluggish sales to two major reasons: a division of sales channels which greatly reduced efficiency and the lack of consumer confidence on some Mazda 3 models.

The Chongqing based joint venture currently sells Mazda 2 (four-door sedan and five-door hatchback versions) and Mazda 3 sedan, while Mazda 6 and Mazda 5 are sold through FAW Car Co. The two companies decided to separate their sales network at the beginning of this year.

Also because Mazda is slow in responding to consumers' complaints about Mazda 3 sedans, which are claimed to have defect half shaft that generates strange sound when driving. The automaker have been persisting that the sound is normal and does not affect passengers' safety.

Separately, General Administration of Quality Supervision, Inspection and Quarantine (GAQSIQ) has issued safety warnings about imported Mazda 3 hatchback and Mazda 5 vehicles related to wiring harness problems.
source: Gasgoo.com
 

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Re: Changan Ford Mazda business news

Changan Ford Mazda cuts 2008 sales target by half :w00t:

August 27, 2008 - Mazda will lower its annual sales target in China to roughly 60,000 units from the previous goal of 120,000 units set earlier this year, announced Changan Ford Mazda Automobile Co in the company’s mid-year business conference with 95 domestic Mazda dealers on August 27, reported 21st Century Business Herald today.

"We haven’t ceased production,” Mazda’s Nanjing plant declined to tell further details. However, according to sources from Changan Ford Mazda Engine Co., the company began to halt part of production lines in July and will have ceased all production lines in August and September except for some maintenance technician’s work.

At the beginning of this year, Changan Ford Mazda set its sales target for 2008 at 120,000 units, but the first half output and sales of Mazda2 and Mazda3 totaled less than 25,000 units. Mazda 6 has its lowest price close to Mazda 3’ highest price, and the imported Mazda 3 also sells at the same price with Chinese-produced Mazda 3, which makes the future of Mazda 3 unpredictable in China.

Dealers of Changan Mazda felt more discouraged as the Mazda 2 suffered dwindling market share due to the price cut of cars of its kind. The new Mazda 3 would be introduced to China in 2010, and this, plus economic slowdown, led to the lack of consumer confidence.
 

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Discussion Starter · #12 ·
Changan Ford to maybe cute 2700 jobs in China

the US bubble pop is affecting china too

After unions and management concluded talks, Swedish carmaker Volvo, which is owned by US giant Ford, said it would let 2,700 workers go, mainly in its home base, but about 1,000 fewer than initially expected. That came as a Chinese partner of Ford, Changan, was said to be interested in acquiring an icon of Sweden’s manufacturing sector. Volvo Cars Chief Executive Stephen Odell said that while he regretted the measures he was “satisfied with the fact that our cost reduction program has been successful and it has enabled us to stay with a lower number of redundancies.”

About 2,300 of the 2,700 job cuts would impact bluecollar employees. Volvo Cars has a 25,000-strong workforce. An additional 680 Volvo employees outside of Sweden were to be made redundant and contracts with some 1,200 consultants were to be cancelled. Unions at Volvo headquarters in Gothenburg, western Sweden urged the Swedish government to step in to support the ailing industry, citing that the government needed to use “funds reserved for bad times.”

Both Ford and rival US auto giant GM, which owns Swedish carmaker Saab, have said they were planning to sell their Swedish subsidiaries. Ford bought Volvo in 1999, while GM took control over Saab the year after. Meanawhile, Changan’s President Xu Liuping talked with Ford executives about a possible sale at an auto show last month in China, the National Business Daily said, citing an unnamed source at Changan. It gave no other details. A spokeswoman for Ford Motor (China) Ltd.

source: neurope.eu/articles/91063.php
 

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Ford Asia Pacific HQ moving to China

February 3, 2009 Ford Motor Company's Asia Pacific and Africa region headquarters, with supporting corporate functions, will be moving to China, Ford Motor (China) Ltd told Gasgoo.com today. Thailand (Bangkok) will continue to serve as Ford's ASEAN regional headquarters.

In an email reply to the Gasgoo.com inquiry this afternoon about Ford Asia Pacific's headquarters relocation to China, Lynn Ouyang, Communications & Public Affairs executive of Ford Motor (China) Ltd., said: "Today, we can confirm that our leadership team, with supporting corporate functions, will be moving to China."

The email added that "Thailand will continue to serve as the ASEAN regional headquarters with our Ford ASEAN leadership team and supporting corporate functions based in Bangkok."

"Ford Motor Company's Asia Pacific and Africa region is continuing the process of regionalization in order to achieve more effective integration and leverage of global assets, and improved management processes that deliver the consistency, efficiency and effectiveness to be competitive in today's business environment," the email said at the beginning.

Lynn Ouyang finally said in the reply: "Additional centers of excellence will be established around the region. It is still too early in the process to discuss anything further."

In 2004, Volkswagen AG and General Motors relocated their Asia Pacific regional headquarters to China to seek greater growth in the center of this region's auto business. China has become the world's second largest auto market after the United States.
source: Gasgoo.com
 

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Ford starts building 3rd China plant for new Focus

Ford Motor started building a third Chinese plant today with its local partner Changan Auto in China's southwest Chongqing city. The new plant will mainly produce Ford's next-generation Focus cars.

The $490 million plant is built by Changan Ford Mazda Automobile Co., a joint venture of Ford Motor, Changan Auto and Mazda Motor. The plant, Ford's second in Chongqing and third in China, will produce 150,000 cars annually starting 2012, to boost Ford's China capacity to 600,000 units.

Ford plans to introduce four new vehicle models in China in the next three years. The next-generation Focus, scheduled to debut in January 2010 at the North American Auto Show, represents a shift toward C-segment vehicles that Ford says it expects to account for nearly 28% of its global sales by 2013.

Ford's Chongqing plant currently makes the Ford Focus, Ford Mondeo and Ford S-MAX. Its plant in Nanjing, in eastern China, makes the Ford Fiesta.

Changan Ford Sales Co. sold 144,601 Ford brand cars in the first eight months, up 30% from a year earlier. Sales of Ford cars surged 111% to 21,127 units in August.

Ford's other partner in China, Jiangling Motors Corp., makes commercial vehicles, including the popular Ford Transit van.

http://www.autohome.com.cn/news/200909/71451.html


 

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Mazda CX-7 to be locally made in China


September 15, 2010
The CX-7, a great family SUV from Mazda, which is currently being sold as an imported model in China through FAW-Mazda's sales network, will be made locally, the joint venture's Marketing Minister Pu Hongsheng said, Beijing Youth News reported Wednesday.

The existing Mazda CX-7 is a "front-engine, front-wheel-drive, compact SUV with a price tag of 288,000 yuan ($42,700), and is powered by a 2.5L engine FF (Front-engine Front-drive).

The imported model has a bigger body size than its competitors such as the Honda CR-V and Toyota RAV-4 but smaller than the Toyota Highlander. The-to-be-produced-model will remain the same size.

As other automakers in Europe and U.S., the Japanese automaker is also stepping up efforts on research and development of the direct injection technology and improvement of the transmission efficiency.

Mazda models will deliver a 30% bump in fuel efficiency. Its high efficiency transmissions will have almost the same effect as the dual-clutch transmissions in enhancing power and lowering fuel consumption, Pu said.

FAW-Mazda will introduce the above two technologies to China in 2014 and apply them to all the Mazda models simultaneously.


http://autonews.gasgoo.com/china-news/mazda-cx-7-to-be-locally-made-in-china-100915.shtml
 

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Changan Mazda finalizes breakup with Ford, to relocate to Nanjing

February 24, 2011
The dissolution of the three-way Changan Ford Mazda joint venture has been officially completed with Changan Mazda's headquarters to be relocated to Nanjing, the Beijing Times reported today. The breakup process, which had been initiated last April, will see the dismantling of the Beijing Mazda motor division, previously in charge of Mazda's Chinese operations. Other operations will be moved to the company's new headquarters of Nanjing within the year.

An unnamed source within Changan Mazda said that the company "had put a lot of consideration in relocating to Nanjing." The primary reason behind the move reportedly is the size of the Nanjing factory, where Changan Mazda will reportedly construct R&D and logistics centers.

The Beijing Mazda motor division is currently responsible for sales, market research, customer service, autopart supplying and business planning. After relocation only the sales and customer service departments will remain in Beijing. Company staff is also to be restructured after the move, with the aforementioned source saying, "[Changan Mazda's] marketing director and other executive positions will be decided by majority shareholder Changan Motors and Mazda Motor Corporation." Beijing staff can choose to follow the company or resign.

http://autonews.gasgoo.com/china-news/changan-mazda-finalizes-breakup-with-ford-to-relo-110224.shtml
 

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Changan Ford Mazda joint venture officially splits up

http://autonews.gasgoo.com/china-ne...-joint-venture-officially-splits-121203.shtml

Changan Automobile Group, along with its foreign partners Ford and Mazda, officially released a statement announcing the formal division of their three-way joint venture, China Business News reported today. The statement signifies that the separation, which was decided upon more than a year ago, is finally complete.

According to the statement, the government has already approved the three companies' requests to separate the Changan Ford Mazda joint venture. In the JV's place, two new companies, Changan Ford and Changan Mazda, have been formed. Both new JVs are equally owned by Changan and its foreign partners, and will focus on research, development, sales and customer service for their respective brands.
 
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